Penalties for Deficiency in Customer Service
The Reserve Bank of India has issued a Master Direction outlining a scheme of penalties for bank branches and currency chests that fail to provide adequate customer service to the public.
The penalties are categorized based on the nature of irregularity and the denomination of notes and coins:
Penalties:
For notes in denomination up to ₹50: [penalty amount]
For notes in denomination of ₹100 & above: [penalty amount]
For coins in all denominations: [penalty amount]
Operational Guidelines:
The Competent Authority will decide the nature of irregularity and impose penalties accordingly.
An Appellate Authority will be available to appeal against the penalty within one month from the date of debit.
Chat with the Master Direction: